Reverse Mortgages
Built Around Your Retirement Goals
A reverse mortgage can help eligible homeowners age 62 and older access a portion of their home equity without selling the home or taking on required monthly principal-and-interest mortgage payments. But it is not a one-size-fits-all solution. We help you understand the costs, responsibilities, alternatives, and long-term impact so you can decide with clarity.
Turn Home Equity Into Greater Flexibility
For the right homeowner, a reverse mortgage can convert a portion of available home equity into funds that may be received as a lump sum, line of credit, monthly payments, or a combination of options. The best structure depends on your age, equity, property value, current mortgage balance, financial assessment, and long-term goals.
Stay in the Home You Love
Eligible borrowers may remain in their primary residence as long as they meet the loan’s occupancy, property-maintenance, tax, insurance, and other ongoing obligations.
Choose How You Receive Funds
Depending on the program and your situation, reverse-mortgage proceeds may be structured as a lump sum, monthly disbursement, line of credit, or combination of options.
No Required Monthly Principal-and-Interest Payments
A HECM reverse mortgage does not require monthly principal-and-interest mortgage payments while the borrower meets the loan requirements—but property taxes, homeowners insurance, home maintenance, and applicable property charges remain the borrower’s responsibility.
Access Eligible Home Equity
Use available proceeds to support retirement income, reduce an existing mortgage payment, cover home improvements, manage major expenses, build a financial cushion, or create more flexibility around future goals.
Create a Plan for What’s Next
A reverse mortgage should support your complete retirement strategy—not replace it. We help you evaluate the effect on cash flow, estate plans, homeownership responsibilities, and your long-term options.
Is a Reverse Mortgage the Right Move?
A reverse mortgage may be worth exploring if you are 62 or older, have significant equity in your home, and want to create greater flexibility while continuing to live in your primary residence.
It may be a strong fit if you are:
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Age 62 or older
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Living in the home as your primary residence
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Owning your home outright or having a relatively low remaining mortgage balance
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Looking to access eligible home equity without required monthly principal-and-interest payments
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Planning for retirement income, home improvements, health-related expenses, or a larger financial reserve
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Looking to purchase a new primary residence with a reverse mortgage strategy
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Exploring whether a reverse mortgage fits alongside savings, investments, insurance, and estate plans
A reverse mortgage is not right for every homeowner. You must continue to pay property taxes, homeowners insurance, and other applicable property charges, maintain the home, and meet occupancy requirements. A financial assessment and HUD-approved counseling are also required for HECM reverse mortgages.
Real People. Clear Advice. A Smarter Way Forward.
"Jason and his team kept us ahead of schedule every step of the way to ensure a successful home purchase. Having a good team on your side makes all the difference, and I’d absolutely work with Jason and Watermark again."
SARAH W.
"Jason was instrumental in helping me purchase my first home! Was extremely responsive, creative, and made the process seamless on our end. I highly recommend working with Jason."
TOBY D
"Our dream home had a buyer fall through, the MortageSmarter team streamlined the process so we could get our qualifications & information submitted quickly & effectively. Jason pushed our loan through very quickly & meet all requirements the sellers we’re looking for. It truly was an amazing experience."
PATRICK & BRITTANY
Use a Reverse Mortgage to Create More Choices
A reverse mortgage may be used for many purposes, but every use should start with a clear understanding of the trade-offs, costs, ongoing responsibilities, and potential impact on your future.
Reduce or Eliminate an Existing Mortgage Payment
Use reverse-mortgage proceeds to pay off an existing mortgage balance, potentially eliminating a required monthly principal-and-interest mortgage payment while you continue meeting property-related obligations.
Create Retirement Income Flexibility
Access eligible equity to supplement retirement income, manage irregular expenses, or create a larger financial cushion for the years ahead.
Fund Home Repairs or Improvements
Use eligible proceeds to repair, maintain, modify, or improve a home so it better supports your needs over time.
Reverse Mortgage Options Designed Around Your Life
The right reverse-mortgage strategy depends on what you want your home equity to make possible now—and how you want it to support your future.
HECM Reverse Mortgages
A Home Equity Conversion Mortgage, or HECM, is an FHA-insured reverse mortgage available through FHA-approved lenders to eligible homeowners age 62 and older.
Monthly-Payment Options
Structure eligible proceeds as monthly disbursements to supplement cash flow and help create more consistency in your retirement budget.
Lump-Sum Proceeds
Access an eligible portion of available proceeds upfront when a lump sum best supports your financial plan.
Reverse Mortgage Refinance
Eligible homeowners with an existing reverse mortgage may explore refinancing when changes in home value, borrower age, loan terms, or financial goals could create a meaningful benefit.
Line-of-Credit Options
Establish access to an eligible line of credit that you can draw from over time, subject to your loan terms and available principal limit.
Reverse Mortgage Purchase
A HECM for Purchase may help eligible homeowners purchase a new primary residence and use reverse-mortgage financing as part of the transaction, subject to program requirements and the need to contribute funds toward the purchase.
Our Process
A Clear Path to Reverse Mortgage Guidance
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Start With Your Goals
Clarity before commitment
We begin with a conversation about your retirement priorities, monthly budget, home equity, housing plans, existing mortgage, and what you want greater financial flexibility to accomplish.
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Review Your Options and Alternatives
Know your numbers. Own your decision.
We review potential reverse-mortgage structures alongside relevant alternatives, helping you understand possible proceeds, costs, obligations, and the long-term trade-offs.
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Complete HUD-Approved Counseling
Independent education before moving forward.
Before a HECM application can proceed, you will complete required counseling with an independent HUD-approved counselor who explains the loan, your responsibilities, potential costs, and alternatives.
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Build Your Loan Strategy
Choose a structure with purpose.
If a reverse mortgage is appropriate, we help you choose a payout structure and loan approach that aligns with your retirement goals and financial plan.
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Stay Informed Over Time
Because your needs can evolve.
Your strategy should continue to serve you as life changes. We remain a resource for questions, refinancing considerations, and mortgage guidance as your circumstances evolve.
"As a first-time homeowner, the information online made things confusing and overwhelming: How do I budget? Is this the right investment? Jason was right by my side to answer every question, build a short-term strategy, and help me think long-term. His team made it one of the easiest things I’ve ever done."
Ashley S.
HOMEBUYER
Reverse Mortgage FAQs
Still have questions?
We got you.
A: A reverse mortgage is a loan that allows eligible homeowners to access a portion of their home equity. The most common federally insured reverse mortgage is the Home Equity Conversion Mortgage, or HECM, which is available through FHA-approved lenders.
A: For an FHA-insured HECM reverse mortgage, homeowners must generally be at least 62 years old. The age of the youngest borrower or eligible non-borrowing spouse affects the available loan amount.
A: Yes. You retain title and ownership of your home. However, you must continue to meet the loan requirements, including occupying the home as your primary residence, paying property taxes and homeowners insurance, maintaining the property, and meeting other applicable obligations.
A: You are not required to make monthly principal-and-interest mortgage payments for a HECM reverse mortgage while meeting the loan requirements. You are still responsible for property taxes, homeowners insurance, home maintenance, and other required property charges.
A: The loan generally becomes due and payable when the last eligible borrower or qualifying non-borrowing spouse dies, sells the home, permanently leaves the home, or does not meet loan obligations. Heirs typically have options, including repaying the balance, selling the home, or, where applicable, using other financing to keep the property.
A: HECM reverse mortgages are non-recourse loans. Generally, you or your heirs will not owe more than the home’s value at the time the loan is repaid, provided program obligations are met; however, this is an important topic to review with the lender, HUD-approved counselor, and your legal or financial advisors.
A: Yes. Before receiving a HECM reverse mortgage, borrowers must complete counseling with an independent HUD-approved counseling agency. The counselor explains how the loan works, your responsibilities, potential costs, and alternatives.
A: Potentially. A HECM for Purchase can allow eligible borrowers to purchase a new primary residence using reverse-mortgage financing, with the borrower contributing the required difference between the purchase price and available loan proceeds.